🔰Tokenomics (Updated)
$ORMM , Community-led governance, Making decision-making a shared responsibility
Last updated
$ORMM , Community-led governance, Making decision-making a shared responsibility
Last updated
The $ORMM token, the heart of the Ordmint platform, is meticulously designed to embody the principles of the Ordinals protocol, Bitcoin's decentralization philosophy, and the values of fairness and justice. Echoing the principles of Bitcoin and the Ordinals protocol, $ORMM ensures a truly decentralized operation within the Ordmint platform. It serves as a tool for community-led governance, making decision-making a shared responsibility rather than a centralized function.
This decentralized approach democratizes the platform, giving power to the hands of those who contribute to its success - the community.
To uphold the values of fairness and justice, every $ORMM token is equal. Each staked token carries the weight of a single vote, thereby ensuring that all voices are valued equally, and no single entity can dominate the decision-making process. This model of fairness extends to rewards, with token holders eligible to share the listing fees collected from launched projects.
In summary, $ORMM is not just a token; it is a representation of the shared values of decentralization, fairness, and community empowerment. It serves as a beacon of a new era of democratic, transparent, and fair project launch processes.
ORMM tokens serve multiple functions within the Ordmint platform:
Governance: $ORMM token holders can vote on proposed projects and rules for the allowlist. Each staked token is equivalent to one vote, ensuring a democratic decision-making process.
Rewards: $ORMM tokens will be distributed as rewards to the community members for their participation and contribution to the platform.
Fee Sharing: Token holders will share a percentage of the listing fees collected from the projects launched on the platform. This not only creates an additional incentive for token holders but also creates a symbiotic relationship between the success of the platform and the benefits to the token holders.
Access to Exclusive Community Events: $ORMM holders will gain access to exclusive community events. These events may include early access to information about upcoming listings, direct interactions with project teams, educational webinars, and exclusive community discussions. This utility further strengthens the bond between the platform and its community, offering an additional incentive to hold $ORMM tokens and actively participate in the Ordmint ecosystem.
Staking and Yield Farming: $ORMM tokens will also be used for staking and yield farming opportunities on the Ordmint platform. Token holders can stake their $ORMM tokens in a designated staking pool to earn rewards over time. These rewards, distributed in $ORMM tokens, can act as a passive income stream for the token holders. Moreover, the platform may introduce yield farming opportunities where users can earn additional tokens of newly listed projects as rewards for staking $ORMM.
Dynamic Incentives for Long-Term Commitment
To incentivize long-term commitment, $ORMM will introduce a dynamic rewards system similar to Curve's veCRV model. Users can voluntarily lock their $ORMM tokens for a specified period, thereby gaining $vORMM (vested $ORMM). The longer the locking period chosen by the user, the more $vORMM they will receive.The $vORMM tokens will have enhanced utilities compared to regular $ORMM tokens:
Increased Voting Power: $vORMM holders will have an amplified voting power, contributing to decisions about listings, allowlist rules, and other governance matters with more influence.
Higher Share in Fees: $vORMM holders will receive a larger proportion of the listing fee revenues distributed among token holders.
Priority Access: $vORMM holders may receive priority access to new project listings, getting a chance to participate before regular token holders.
This dynamic incentive system motivates users to hold and lock their $ORMM tokens for longer durations, fostering a stable and committed community while also adding an extra layer of security to the platform.
These diversified and innovative utilities make $ORMM integral to the Ordmint ecosystem, promoting an engaged community and embodying the core principles of decentralization, transparency, and fairness.
